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The Wrap: Interbank market news scan for 19 February at 5:00 pm.

5:00 pm EUR/USD 1.1768 GBP/USD 1.3472 CHF/USD 1.2900 AUD/USD 0.7058 NZD/USD 0.5974 JPY/USD 0.0065 CNY/USD 0.1447 Gold 4998.95 Silver 78.35 Source: Reuters U.S. Supreme Court The US Supreme Court today did not issue any court opinions discussing artificial intelligence or large language models. U.S. Court of Appeals-Fourth Circuit The U.S. Court of Appeals for the … Continue reading The Wrap: Interbank market news scan for 19 February at 5:00 pm.

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Could it be more about where the banks want to go versus where traders think the Fed wants to go?

Over the weekend, I spoke to my contacts in the banking industry trying to get a feel for banker sentiments on the Fed’s interest rate policy. The sentiments boiled down to the banks taking whatever the Fed decides in stride. As one contact put it, it’s about the money and the banks will take what … Continue reading Could it be more about where the banks want to go versus where traders think the Fed wants to go?

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It is less about political interference with the Fed and more about the degree of interference.

There is ongoing concern of a threat by the Executive Branch to the independence of the Federal Reserve System, specifically influence by the Executive Office of the President on the decisions made by the Federal Open Market Committee on monetary policy. I do not think the issue is political threats to the independence of the … Continue reading It is less about political interference with the Fed and more about the degree of interference.

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CFTC Staff Issues No-Action Letter Regarding Event Contracts

August 07, 2025 WASHINGTON, D.C. — The Commodity Futures Trading Commission’s Division of Market Oversight and the Division of Clearing and Risk today announced they have taken a no-action position regarding swap data reporting and recordkeeping regulations for event contracts in response to a request from the Railbird Exchange, LLC, a designated contract market, and QC … Continue reading CFTC Staff Issues No-Action Letter Regarding Event Contracts

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Time to discount effects of Trump’s call for a Powell removal on EUR/USD

From my trading desk: A little dollar strengthening from 5:00 am to 9:00 am, then … From 5:00 am to 9:00 am, I saw dollar strengthening based on the decreasing price of the EUR/USD as reported on the NADEX. The price went from 1.15424 to 1.15354. The U.S. Bureau of Economic Analysis released its balance … Continue reading Time to discount effects of Trump’s call for a Powell removal on EUR/USD

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As America gets over last week’s payrolls number, Kalshiex sees a legal setback …

From the trading desk … A slow day for me on the NADEX. This morning, I bought the EUR/USD > 1.1540 that expired at 3 pm today and sold the EUR/USD > 1.1640 that also expired at 3pm today. Price at expiration was 1.15645. Markets were still digesting the May and June downward revision of … Continue reading As America gets over last week’s payrolls number, Kalshiex sees a legal setback …